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Warrantech Automotive Introduces its Sterling Auto Warranty Plan for Used Car Market

January 29, 2004

Warrantech Corp., an independent provider of service contracts and aftermarket warranties, has introduced the Sterling Auto Warranty Plan, which it says is designed to offer used-car buyers broad coverage at an affordable cost.

"It not only protects the consumer against mechanical problems, but also includes a full array of benefits including Vehicle Title LLC’s TitleGuard vehicle title insurance, road club services provided by Road America and substitute transportation, all at an affordable price," the company said in a prepared statement.

"Unlike most service contracts, Sterling Auto Warranty has been completely designed to meet the needs of independent used car dealers," Warrantech said. It will also be used in franchised dealerships for higher mileage used vehicles.

One of the key factors in creating this program is to give dealers a high quality product that is fully insured from day one, according to Warrantech.

"By creating an affordable program that is administered by Warrantech and is fully insured, dealers can provide the Sterling Auto Warranty on their pre-owned vehicles with confidence, knowing that their customers will be taken care of now and in the future,” said Chris Ford, president of Warrantech Automotive. "We are offering dealers new car service contract security at a level of coverage and price they are seeking for their used vehicles.”

Warrantech’s Sterling Auto Plan will include three levels of coverage, from a simple power train to comprehensive coverage that includes high tech electrical components.

Ford said that dealers will be able to register contracts directly online and handle most claims through Warrantech’s VSC Online Internet-based platform. “This is raising the level of sophistication on a used-vehicle program up to the standards of a new-car program, while keeping it simple at the dealership level,” Ford said.

About Warrantech

Warrantech Corp. administers and markets service contracts and aftermarket warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, homes, computer and computer peripherals for retailers, distributors and manufacturers.

The company continues to expand its domestic and

global penetration, and now provides its services in the United States, Canada, Puerto Rico and Latin America.

For additional information on Warrantech, access www.warrantech.com.

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